Arete Wealth Advisors LLC Increases Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Arete Wealth Advisors LLC raised its stake in shares of Molson Coors Beverage (NYSE:TAP) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,705 shares of the company’s stock after purchasing an additional 912 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Molson Coors Beverage were worth $674,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TAP. State Street Corp increased its position in shares of Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after buying an additional 681,757 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Molson Coors Beverage by 66.5% during the 2nd quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock worth $274,341,000 after acquiring an additional 2,155,842 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Molson Coors Beverage by 20.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after acquiring an additional 434,685 shares in the last quarter. River Road Asset Management LLC lifted its stake in shares of Molson Coors Beverage by 1.8% in the 3rd quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company’s stock valued at $96,475,000 after purchasing an additional 29,315 shares during the period. Finally, Thompson Siegel & Walmsley LLC purchased a new position in shares of Molson Coors Beverage in the 3rd quarter valued at approximately $48,202,000. 78.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TAP has been the topic of several recent research reports. BNP Paribas initiated coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target on the stock. TD Cowen decreased their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Tuesday, October 8th. Barclays boosted their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $52.00 to $74.00 in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $62.00.

Molson Coors Beverage Trading Down 0.7 %

Molson Coors Beverage stock opened at $60.94 on Friday. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The business’s fifty day moving average is $58.43 and its 200 day moving average is $54.93. The stock has a market capitalization of $12.55 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 2.37 and a beta of 0.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the firm earned $1.92 EPS. The company’s revenue was down 7.8% compared to the same quarter last year. On average, sell-side analysts predict that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 2.89%. Molson Coors Beverage’s payout ratio is 39.64%.

About Molson Coors Beverage

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.